Date: 02/02/2000 8:41 PM
Subject: comment on File No. S7-31-99
Although the rule does not consider an internet posting on the
issuer's site to be sufficient for public disclosure, I expect this
will be one of the most popular mechanisms when used in conjunction
with press releases and publicly accessible conference calls,
especially with regard to playback. The internet is now the leading
source for retail investment information. 75% of individual investors
use corporate sites as important research tools and 90% choose
companies without the help of an advisor.
Individual Investor Group Inc. (INDI) broke new ground by discussing
corporate earnings on the company's message board. The Fair
Disclosure rule should facilitate such innovation. By removing some
of the speculative advantage which a few investors enjoyed, the Fair
Disclosure rule and other recent developments may convince
stockholders to act as owners, taking a more active role in corporate
governance rather than doing the Wall Street walk.
Sincerely,
James McRitchie, Editor
Corporate Governance
2461 Second Avenue
Sacramento, CA 95818
phone: 916.452.5338
fax: 916.457.0922